George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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Good resistance stopping this going below £6. Very unusual for a FTSE100 stock to be up after ex-dividend. Happy to hold on to this. May sell some when it gets to £8 as overweight. Don't agree with Simply Wall Street, which looks at one piece of data, current P/E, to decide it is over priced.
https://simplywall.st/stocks/gb/materials/lse-fres/fresnillo-shares/news/subdued-growth-no-barrier-to-fresnillo-plc-lonfres-with-shar
Gold and Silver still on Bull run upwards. Should see 615/620 tomorrow.
With regards the dividend , I doubt the market gives a fig about some 3p Dividend
Few things to remember -
Silver price at multi year high but SP not reflecting that
Low free float so any drop is buy panicked investors and is a buying opportunity considering silver price
China's industrial growth picking up so that should help push PM prices
US interest rates predicted to be staying high for next 6months so gold will move up and FRES produced gold too
Silver Supply low but demand is high with net zero being the goal so silver price to go high
SP is not reflecting any of the above!
Hi DK, yes that was my point as it dumped more than the divi (c3p) at the open, as is common with FTSE names.
Hi fog it has gone ex divi today so I guess the small drop is for today rather than tomorrow? Bonkers and others know more about this I. Cheers DK
"Is this expected to drop tomorrow when it goes ex divi ?"
As is tradition, and in true FTSE 100 tradition it always falls more than the divi.
"Silver Institute: "#Silver Demand for Photovoltaics Increased 64 Percent, Surpassing Estimates."
Forecast 2024 solar demand: 232Moz, nearly tripling in last 3 years."
Depends how many you have, but generally a fair point nevertheless. The current dividend is crap and has been all the time I have been here :)
Maybe enough for a cheap bottle of Tequila?
It's just over 3p per share.
Good woosh lol
The divi is insignificant.
Is this expected to drop tomorrow when it goes ex divi ?
"Silver prices, which are near a three-year high, should remain supported by record industrial usage and a supply deficit, the Silver Institute says"
https://twitter.com/business/status/1780582140096237862
"The Silver Institute's new world silver survey is out, and shows a 184 million ounce deficit in 2023."
https://x.com/bonker_99/status/1780607171375313329
Https://www.silverinstitute.org/silver-industrial-demand-rose-11-percent-to-post-a-new-record-in-2023/
Easier to read and digest.
"Fourth, given the supply-demand fundamentals, I believe that the silver price has a strong base and over time will be higher,
probably significantly higher." Chairs statement.
Fres still No.1 producer in the world.
Https://www.silverinstitute.org/wp-content/uploads/2024/04/World-Silver-Survey-2024.pdf
Production report on 24th April.
JPMorgan raises Fresnillo to 'overweight' (neutral) - price target 750 (500) pence
Seemed inevitable that the buyers would come back in...... a few traders scrambling to re-buy I suspect
I am not selling anything ..because the reasons to buy PM are still in place .... IMO
Paid.
Penoles came down and kissed the 14 day average before finding support, if we do the same then we could see circa 540-550 this week.
USDMXN is moving up, while gold/silver prices hover high. Good setup to start climbing again.